Furthermore, are you going to cover the role of utilitarianism (as a moral philosophy) in influencing economics? Jeremy Bentham's An Introduction to the Principles of Morals and Legislation was the first exposition of the hedonic calculus, and it's been entrenched for a long time in the economics profession ever since.

What about Modernism? When I first heard about the Post-Modernist view of history, I wondered if they had ever heard about the Romantic Era. But that view does seem to fit economic thought.

To what extent is mainstream economics a reaction to 19th century socialism? What about Georgism? What about the conflation of land and capital, something that George would vigorously deny?

What about bimetalism and Bryan's Cross of Gold speech? At first, that seems arcane today, but Bryan drew crowds to recitations of that speech for years. And today we see labor in Europe being sacrificed to a virtual gold standard in the Euro.

I κnow this if off toρіc but I'm looking into starting my own weblog and was curious what all is needed to get set up? I'm assuming having a blog liκe yοuгs would cost a pretty pеnnу?I'm not very internet smart so I'm not 100% ρositive.

Agreed. Daniel's question is really a conjecture about your question. It all depends on how you interpret "excess capacity". Is it a result of underutilization? Or is it a consequence of large-scale structural miscoordination? Depending on what you think, your policy prescription is going to very different. And contrary to what DeLong, Krugman, et al. might say/think, the word is still out on whether our problems are structural, or "utilization" related.

I believe that one of the central questions for the history of economic thought is how the value of goods is determined, i.e. surplus approach vs marginalism. Pretty much a millennia long debate from the Aristotle's 'just price' to the Sraffian conceptions of production of commodities by the means of commodities.

The conceptions of economies as dynamic systems is also a worthy approach: from Quesnay to DSGE AND dynamic stock-flow consistent models.

The back and forth between the free-trade doctrine and the ideas of protectionism is also an interesting theme of a study. Peshine Smith, List and other less known figures.

Roman, you need more help than Daniel. Nothing has value independent of what someone will pay. If the market won't pay you $250 for your used car, it isn't worth $250, regardless of all the economic theory from the beginning of time to today. And guess what, as soon a A buys from you for $249, the car is no longer would $249 either

I'm not sure that we are identical but I seem to recall Alexander saying he is a lawyer and if that were true and he was, say, about sixty years old, then he and I would have some things in common. :-)